Chapter

Short-Run Models of Contrasting Natural Resource Endowments

S. Mansoob. Murshed

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI: http://dx.doi.org/10.1093/0199275785.003.0007

Series: WIDER Studies in Development Economics

Short-Run Models of Contrasting Natural Resource Endowments

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This chapter examines the links between natural resources, economic growth, and economic policy using a short-run theoretical macroeconomic model of a small open economy endowed with a natural resource exporting sector. It considers the short-run effects of resource booms, devaluation, and a consumption tax on the non-traded good. Typologies are developed, distinguishing between the East Asian (diffuse resource-rich) and Latin American (point-source linkages) cases.

Keywords: macroeconomic model; natural resource; Latin America; East Asia; economic growth; economic policy; resource boom; devaluation; consumption tax

Chapter.  6054 words.  Illustrated.

Subjects: Economic Development and Growth

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